Today’s Wall Street Journal features a story on the Securities and Exchange Commission (SEC) shifting its enforcement actions from independent U.S. District Courts to internal administrative tribunals.
Eighty percent of all actions are now brought before these tribunals, as opposed to just half four years ago. The story also notes that these tribunals rule in favor of the SEC more than 90% of the time—significantly higher than the agency’s 70% success rate in U.S. District Courts. Many are questioning the fairness of the SEC tribunals, where the prosecutors and judges are appointed by the SEC, and the full commission hears appeals.
Read the full story here.